Silk Market Size, Share, Growth, and Industry Analysis, By Type (Mulberry Silk, Tussar Silk, Eri Silk, Muga Silk, Other) By Application (Clothing and Accessories, Home Textiles, Other) and Regional Forecast to 2032

Updated On: 02 September 2024

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SILK MARKET REPORT OVERVIEW

The global Silk Market size was USD 3.7 billion in 2023. As per our research, the market is expected to reach USD 4.57 billion by 2032, exhibiting a CAGR of 2.0% during the forecast period.

The Silk Market refers to the worldwide organisation concerned inside the manufacturing, exchange, and consumption of silk, a luxurious fabric regarded for its softness, sheen, and strength. Originating in historic China, silk has historically been fairly valued and admired, the use of the development of sizeable change routes together with the Silk Road. Today, the silk market encompasses numerous sectors together with uncooked silk production, textile production, and excessive-style clothes. Major manufacturers encompass China, India, and Thailand, at the same time as global call for spans from immoderate-surrender fashion to standard textiles. The market keeps to evolve with inclinations in sustainable and progressive silk production practices.

COVID-19 Impact: Market Growth Restrained by Pandemic due to Reduced Manufacturing

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic had terrible effect on Silk Market growth through disrupted supply chains, reduced manufacturing, and decreased call for. Lockdowns and guidelines delivered about production unit closures and halted uncooked silk manufacturing, at the same time as worldwide journey regulations affected the distribution and sale of silk products. Fashion industries, a top patron of silk, faced decreased consumer spending and not on time product launches. The financial uncertainty moreover introduced about a drop in pricey devices intake. Additionally, shifts closer to more casual and comfortable apparel sooner or later of the pandemic in addition decreased call for excessive-prevent silk garments. These elements together prompted market instability and monetary worrying conditions for the silk industry.

LATEST TRENDS

"Sustainable Practices and Technological Innovations the Market Dynamics"

The silk market is currently evolving with a focal point on sustainability and technological enhancements. Eco-quality manufacturing strategies, which include decreasing water and chemical usage, are gaining traction as clients and types prioritize environmental duty. Innovations in textile technology, inclusive of virtual printing and advanced weaving techniques, are enhancing the potential and attraction of silk fabrics. Additionally, there is a growing hobby in traceability and transparency inside the deliver chain, driven via call for ethically produced items. These tendencies are reshaping the silk enterprise, making it more aligned with modern values and market desires.

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SILK MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into Mulberry Silk, Tussar Silk, Eri Silk, Muga Silk, Other

Mulberry Silk: Produced with the resource of silkworms (Bombyx mori) that feed exclusively on mulberry leaves, that is the maximum not unusual and commercially big sort of silk. It is thought for its easy texture, immoderate lustre, and electricity, making it the popular preference for fantastic textiles and fashion garments.

Tussar Silk: Also known as tussah or tussah silk, it's miles produced through wild silkworms (Antheraea paphia) that feed on plenty of timber. Tussar silk has a distinct natural gold or brown coloration, and a coarser texture in assessment to mulberry silk. It is often applied in traditional and ethnic textiles.

Eri Silk: Derived from the Eri silkworm (Samia ricini), which feeds on castor leaves, Eri silk is notion for its warmth, woolly texture and is frequently referred to as "peace silk" due to the non-lethal harvesting approach. It is a first rate deal much less sleek but notably long lasting and is carried out in garments, blankets, and domestic textiles.

Muga Silk: Produced in Assam, India, thru the muga silkworm (Antheraea assamensis), Muga silk is idea for its wealthy, golden-yellow coloration and immoderate durability. It is carried out in conventional Assamese clothes and is prized for its rarity and specific lustre.

Other Silks: This category includes numerous lesser-recounted types of silk, which include spider silk or silk produced through the use of one in all a type wild silkworm species. These are regularly location of interest products with precise houses and programs, which incorporates in medical or technological fields.

By Application

Based on application the global market can be categorized into Clothing and Accessories, Home Textiles, Other

Clothing and Accessories: This segment includes silk used in apparel and style add-ons. Silk's high priced sense, sheen, and drape make it a famous desire for immoderate-give up apparel which encompass clothes, blouses, fits, and scarves. It is also utilized in accessories like ties, handbags, and underclothes, in which its softness and appearance decorate the product's general remarkable and appeal.

Home Textiles: Silk is utilized in numerous home textiles, which incorporates bed linens, curtains, and fabric. Its clean texture and natural luster upload a hint of splendor and luxury to domestic decor. Silk bedding and curtains are mainly valued for their aesthetic attraction and luxury, in addition to their functionality to alter temperature and reduce allergens.

Other: This magnificence encompasses a whole lot of specialized applications for silk past garb and home textiles. It consists of medical textiles, in which silk's biocompatibility is useful for surgical sutures and wound dressings, and business makes use of, at the side of in immoderate-common overall performance fabrics and composite materials. Additionally, it covers area of interest markets like silk in art work and craft obligations, in which its precise homes are implemented for particular creative capabilities.

DRIVING FACTORS

"Sustainability and Ethical Production Drives the Market"

There is a growing purchaser name for environmentally nice and ethically produced gadgets. This has delivered about increased adoption of sustainable farming practices, at the aspect of reduced pesticide use and water conservation, similarly to transparency in supply chains to make sure sincere tough paintings practices.

"Technological Advancements Drives the Market"

Advances in fabric era, which incorporates virtual printing and superior weaving strategies, are enhancing the exquisite and versatility of silk products. These improvements permit for extra revolutionary and practical makes use of silk, catering to evolving style tendencies and consumer opportunities.

RESTRAINING FACTORS

"High Initial Costs Restrains the Market Growth"

One critical restraining detail for the silk market is the immoderate production prices. Silk manufacturing calls for big exertions and specialized competencies, making it more luxurious compared to artificial options. Additionally, the approach of cultivating silkworms, harvesting cocoons, and processing the fibers consists of huge useful resource inputs, contributing to better state-of-the-art costs. These expenses can restriction the competitiveness of silk in price-touchy markets and effect profitability for manufacturers and shops.

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SILK MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

"Aisa Region Dominating the Market due to Existence of Silk Cultivation"

Aisa is anticipated to play a dominant position within the Silk Market share. Asia, especially China performs a dominant feature in the global silk market. As the biggest manufacturer and exporter of silk, China money owed for a fantastic issue of world manufacturing. The u . S . A . Has a protracted-recognition way of existence of silk cultivation and manufacturing, supported thru notable infrastructure, skilled exertions, and superior generation. China's dominance is also pushed by means of the usage of its capability to satisfy every excessive home and global name for, making it a relevant hub inside the silk deliver chain. The combination of ancient expertise and large-scale manufacturing skills reinforces China's principal position inside the international silk corporation.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

Key enterprise game enthusiasts in the international silk market embody several superb organizations. Guangxi Guihe Group, based totally in China, is a remarkable producer seemed for its enormous operations in silk production. NAN SI LU GROUP, furthermore based totally absolutely in China, performs a vital position with its various silk merchandise. China Silk Road, located in China, is a fantastic player in each domestic and global silk change. Karnataka Silk Industries Corporation, positioned in India, contributes to the market with its recognition on first rate silk textiles. Additionally, Jiangsu Jiujiu and Jiangsu Soho International Group, every primarily based in China, are key people to the enterprise, offering a number silk merchandise and enhancements.

List of Market Players Profiled

• Guangxi Guihe Group (China)
• NAN SI LU GROUP (China)
• China Silk Road (China)
• Karnataka Silk Industries Corporation (India)
• Jiangsu Jiujiu (China)
• Jiangsu Soho International Group (China)

INDUSTRIAL DEVELOPMENT

January 2024: One excellent modern innovation inside the silk market is "Bioengineered Spider Silk" superior thru manner of Dr. Fritz Vollrath and his group on the University of Oxford. In 2021, they superior the producing of artificial spider silk the use of bioengineering strategies, which may be utilized in numerous programs, inclusive of textiles. This innovation mimics the homes of herbal spider silk however is produced greater sustainably and with extra manage over its houses. This improvement represents a good sized step forward in developing excessive-basic universal performance, eco-friendly options to traditional silk.

REPORT COVERAGE

The Silk Market is navigating a transformative length pushed with the resource of sustainability and technological improvements. While excessive production prices and disruptions just like the COVID-19 pandemic pose disturbing situations, enhancements inclusive of bioengineered spider silk are paving the manner for a more sustainable and flexible future. China stays a key participant, leveraging its huge data and infrastructure. As the market adapts to evolving customer selections and environmental issues, those inclinations are possibly to shape the silk enterprise's trajectory, making it extra aligned with cutting-edge values and technological improvement.